Morningstar Quarterly Cash Flow Statement
NASDAQ: MORNFinancial ServicesFinancial Data & Stock ExchangesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Morningstar free cash flow
In the quarter ended Jun 30, 2026, Morningstar generated $155.7 million of operating cash flow and spent $33.2 million on capital expenditures. That left free cash flow of $122.5 million, a free-cash-flow margin of 18.5% of revenue. Free cash flow was up 96.3% from the prior year's $62.4 million.
Morningstar returned $119.0 million to shareholders: $19.0 million in dividends and $100.0 million in share repurchases, equal to 97% of free cash flow. Free cash flow covered dividend payments 6.4 times.
Summary generated from market data by MetaCap's automated system. Methodology
Morningstar cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 107.80M | 107.10M | 115.10M | 91.60M | 89.00M | 78.50M | 116.90M | 119.70M | 69.10M | 64.20M | 73.50M | 39.10M |
| Net Income growth (YoY) | +21.12% | +36.43% | -1.54% | -23.48% | +28.80% | +22.27% | +59.05% | +206.14% | +91.41% | — | +2127.27% | — |
| Depreciation & Amortization | 53.50M | 51.70M | 47.10M | 47.00M | 48.50M | 47.30M | 48.40M | 45.70M | 49.10M | 47.20M | 46.50M | 46.60M |
| Stock-Based Compensation | 27.30M | 10.80M | 10.30M | 18.60M | 18.40M | 9.10M | 15.90M | 13.20M | 14.20M | 11.40M | 11.10M | 14.70M |
| Change in Working Capital | -23.20M | 54.70M | -7.10M | -11.20M | -47.20M | 65.20M | -26.90M | -6.00M | -31.00M | 63.70M | -20.40M | 3.30M |
| Operating Cash Flow | 155.70M | 91.50M | 204.00M | 195.70M | 99.00M | 91.00M | 153.40M | 191.90M | 152.70M | 93.60M | 137.80M | 130.70M |
| Capital Expenditures | -33.20M | -37.90M | -42.70M | -35.60M | -36.60M | -32.20M | -40.60M | -36.10M | -31.90M | -34.10M | -30.00M | -29.30M |
| Investing Cash Flow | -26.00M | -384.40M | -11.70M | -33.00M | -23.90M | -70.70M | 24.10M | 14.10M | -32.80M | -26.70M | -32.80M | -21.30M |
| Dividends Paid | -19.00M | -19.90M | -18.90M | -19.20M | -19.30M | -19.50M | -17.30M | -17.40M | -17.30M | -17.30M | -16.00M | -16.00M |
| Share Repurchases | -100.00M | -300.00M | -395.30M | -170.10M | -112.00M | -109.60M | -11.60M | 0 | 0 | 0 | 0 | 0 |
| Financing Cash Flow | -130.60M | 316.90M | -194.00M | -188.10M | -108.50M | -24.10M | -199.10M | -60.20M | -81.60M | -43.50M | -103.40M | -120.10M |
| Net Change in Cash | -3.30M | 18.30M | 300.00K | -29.30M | -8.00M | 8.80M | -50.20M | 161.70M | 37.50M | 15.80M | 12.90M | -18.30M |
| Free Cash Flow | 122.50M | 53.60M | 161.30M | 160.10M | 62.40M | 58.80M | 112.80M | 155.80M | 120.80M | 59.50M | 107.80M | 101.40M |
This table shows 12 quarterly periods of Morningstar's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MORN's reporting calendar. What is a cash flow statement?